Business failures can't be deemed as crimes, will reform laws, says PM Modi

Hardselling his administration's pro-business approach, Prime Minister Narendra Modi on Friday said the government is working to decriminalise provision of Companies Act to make it easier to do business in the country.
 

Speaking at an Assocham event, he said the recent cut in corporate tax has brought rates to all-time low for businesses.

He, however, said labour force should also be taken care of.
 

Modi said time taken to register companies has been cut to few hours from months and better infrastructure has enabled the cut in turnaround time at airports and ports.
 

Dynamic changes have been made in the